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Moneyextra aiming for teachers in IFA recruitment drive

IFA Moneyextra is targeting teachers, lecturers and social workers to become IFAs as part of its recruitment drive this year.

Moneyextra, the personal finance website, is launching a phone and face-to-face IFA service this spring. It says it is interested in recruiting people in these occupations because they have the necessary qualities, including good communication, listening skills and empathy.

Moneyextra says the strategy is intended to help overcome the shortage of IFAs in the market who could adapt their experience to fit its structure and also offer phone-based advice.

The company will begin its recruitment campaign from the middle of the year, advertising in specialist magazines and newspapers aimed at teachers, lecturers and social workers.

Those deciding to join Moneyextra will be trained to at least FPC3 standard.

It is looking for almost 100 IFAs to offer face-to-face advice in regional centres around the UK and phone advice from its call centre in Bristol.

Managing director Martin Palmer says: “Our decision to target these groups comes in the context of difficulties in attracting IFAs with the right skills.”

Scottish Equitable IFA training manager Peter Williams says: “This is a logical decision as teachers, for example, are likely to have an aptitude for giving advice. But it is vital they develop full technical and product knowledge.”

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